Rhumbline Advisers Has $2.54 Million Stock Holdings in Cogent Biosciences, Inc. $COGT

Rhumbline Advisers grew its position in shares of Cogent Biosciences, Inc. (NASDAQ:COGT) by 12.9% in the third quarter, HoldingsChannel reports. The fund owned 176,712 shares of the technology company’s stock after acquiring an additional 20,195 shares during the period. Rhumbline Advisers’ holdings in Cogent Biosciences were worth $2,538,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. Profund Advisors LLC lifted its position in shares of Cogent Biosciences by 64.1% in the third quarter. Profund Advisors LLC now owns 33,083 shares of the technology company’s stock worth $475,000 after purchasing an additional 12,926 shares in the last quarter. ProShare Advisors LLC increased its stake in Cogent Biosciences by 4.5% in the 3rd quarter. ProShare Advisors LLC now owns 27,203 shares of the technology company’s stock valued at $391,000 after buying an additional 1,182 shares during the last quarter. Candriam S.C.A. lifted its position in Cogent Biosciences by 123.3% during the 3rd quarter. Candriam S.C.A. now owns 954,209 shares of the technology company’s stock worth $13,702,000 after buying an additional 526,867 shares in the last quarter. Optimize Financial Inc bought a new stake in Cogent Biosciences during the 3rd quarter worth about $467,000. Finally, Principal Financial Group Inc. acquired a new position in shares of Cogent Biosciences during the 3rd quarter worth about $3,913,000.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on the company. UBS Group upgraded Cogent Biosciences to a “strong-buy” rating in a report on Wednesday, January 7th. Needham & Company LLC reiterated a “hold” rating on shares of Cogent Biosciences in a research note on Monday, December 8th. Wall Street Zen downgraded Cogent Biosciences from a “hold” rating to a “sell” rating in a report on Saturday, January 31st. Wedbush restated an “outperform” rating and set a $55.00 target price on shares of Cogent Biosciences in a report on Wednesday, January 21st. Finally, Leerink Partners upped their price target on shares of Cogent Biosciences from $18.00 to $50.00 and gave the stock an “outperform” rating in a research report on Monday, November 10th. Two research analysts have rated the stock with a Strong Buy rating, ten have issued a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $40.67.

Cogent Biosciences Stock Performance

Shares of NASDAQ COGT opened at $39.46 on Friday. The company has a current ratio of 14.23, a quick ratio of 14.23 and a debt-to-equity ratio of 0.41. The company has a market capitalization of $6.40 billion, a P/E ratio of -18.27 and a beta of 0.45. Cogent Biosciences, Inc. has a 12 month low of $3.72 and a 12 month high of $43.73. The stock has a 50 day moving average of $37.58 and a 200-day moving average of $26.89.

Cogent Biosciences (NASDAQ:COGT) last posted its quarterly earnings results on Tuesday, February 17th. The technology company reported ($0.55) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.51) by ($0.04). As a group, equities research analysts predict that Cogent Biosciences, Inc. will post -2.42 EPS for the current year.

Insider Activity at Cogent Biosciences

In other news, insider Jessica Sachs sold 82,642 shares of the firm’s stock in a transaction dated Friday, December 26th. The shares were sold at an average price of $38.70, for a total transaction of $3,198,245.40. Following the completion of the sale, the insider owned 133,938 shares in the company, valued at approximately $5,183,400.60. This trade represents a 38.16% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Fairmount Funds Management Llc sold 3,500,000 shares of Cogent Biosciences stock in a transaction dated Thursday, January 22nd. The stock was sold at an average price of $36.40, for a total transaction of $127,400,000.00. Following the sale, the director directly owned 5,503,418 shares of the company’s stock, valued at $200,324,415.20. The trade was a 38.87% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 3,737,642 shares of company stock valued at $136,600,345 over the last three months. Company insiders own 7.29% of the company’s stock.

Cogent Biosciences Profile

Cogent Biosciences is a clinical-stage biopharmaceutical company focused on the discovery and development of small-molecule therapies that modulate the tumor microenvironment. The company’s research centers on targeting colony-stimulating factor 1 receptor (CSF1R), a key regulator of tumor-associated macrophages that can promote tumor growth and immune evasion. By selectively inhibiting CSF1R, Cogent Biosciences aims to restore immune surveillance and enhance the efficacy of existing cancer treatments.

The company’s lead asset is an orally bioavailable CSF1R inhibitor that has advanced into early-stage clinical trials for various solid tumors.